Guide to Financial Services Regulations & Guidelines in Indonesia

Financial regulators in Indonesia include:

●The Indonesian Financial Services Authority (OJK) is the financial services regulatory authority in Indonesia, responsible for supervising and managing the IT risk management of financial institutions and nonbank financial institutions.

To regulate financial institutions' risk management in technology, the OJK published a series of regulatory requirements and guidelines, covering technology risk management, IT outsourcing management, customer information protection and business continuity management for financial institutions operating in Indonesia. The related regulatory requirements and guidelines include:

● Implementation of Risk Management in the use of Information Technology by Commercial Banks: On June 6, 2017, the Indonesian Financial Services Authority issued the notice on the basis of the No.38/POJK.03/2016 Provisions on the Implementation of Risk Management by Commercial Banks in the Use of Information Technology. The notice proposed risk management requirements for commercial banks to implement IT technology, involving requirements in multiple IT fields, such as business continuity, data security, information security, supplier requirements, etc.

● Implementation of Risk Management in the use of Information Technology by Commercial Banks (referred to as "POJK MRTI"): On December 14, 2016, the Indonesian Financial Services Authority issued this regulation, which puts forward risk management requirements for commercial banks to implement IT technology, involving requirements in multiple IT fields, such as business continuity, data security, information security, supplier requirements, etc.

● Implementation of Risk Management in the use of Information Technology by Commercial Banks: On June 18, 2020, the Indonesian Financial Services Authority issued the amendment, which revised the provisions of No.38/POJK.03/2016 on data center and disaster recovery center, and put forward further requirements.

●Implementation of Risk Management in the Use of Information Technology by Nonbank Financial Services Institutions: On March 9, 2021, the Indonesian Financial Services Authority issued this regulation, which requires non bank financial institutions to implement risk management in IT technology, involving requirements in multiple IT fields, such as information security, business continuity, data security, domestic transaction processing, supplier management, etc.

HUAWEI CLOUD User Guide to Financial Services Regulations & Guidelines in Indonesia describes how Huawei Cloud will help you meet the regulatory requirements of the financial industry in Indonesia.